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It's a quiet week with regard to Australian economic data. Chinese Manufacturing PMI and Non-Manufacturing PMI on Friday will probably confirm lacklustre activity in the world's second largest economy. That may keep upticks in the pair contained.
The pair has been carving out a triangle-like pattern for more than two years. 0.75 has served as a mid-point and an axis around which volatility is compressing. Whatever direction the pattern will resolve to, it could make for a nice breakout trade in the second half of the year.
The pair has been carving out a triangle-like pattern for more than two years. 0.75 has served as a mid-point and an axis around which volatility is compressing. Whatever direction the pattern will resolve to, it could make for a nice breakout trade in the second half of the year.
